posted 28-10-2007 23:32            

One of Australia's most unique and timely public share offers, a $6 million Initial Public Offering (IPO) for Australian geothermal exploration company Torrens Energy Limited, opens today (Tuesday, 27 February 2007). The capital raised from the IPO will be applied to the initial exploration of the Company's large GEL land position in South Australia.
Unusually hot rocks are known to occur in South Australia. These rocks are a vast untapped reservoir of energy, which can be used to generate electricity. Cold water is pumped into the ground, with superheated water being returned to surface which is "flashed" into steam, to drive a turbine, to generate clean, reliable electricity. The Company's portfolio of geothermal exploration licences near Adelaide in South Australia capitalises on the unique combination of the right geological conditions coinciding with infrastructure and markets.
The Company plans to identify geothermal targets for development, to become a dominant player in efficient, reliable electricity generation in Australia, using sustainable, renewable, emissions-free geothermal energy. What sets Torrens apart is its proximity to infrastructure and markets, being the first Company to recognize the geothermal potential which exists just kilometres north of Adelaide, on the National Power Grid.
Torrens has already completed work that has confirmed the prospectivity of its licence areas; drill hole temperature data and rock thermal property measurements completed and independently verified, show temperatures of 200oC modelled to 5000m depth, on all of the Company's tenements in South Australia. http://www.torrensenergy.com/

posted 30-10-2007 22:49            

Experts say hot rock geothermal energy can operate 24 hours a day and doesn't depend on sun or wind. But it's decades away from serious rivalry with existing energy sources.

Susan Petty, one of the 18 co-authors of the MIT study, works for Black Mountain Technology, a company promoting hot rock energy. She predicts that 10 percent of the world's power could come from geothermal sources in the next 50 years, from the current 0.3 percent, rising to half in around 100 years.

Promoters of the technology say that while geothermal drilling is costly, it's cheaper to run once it's in place. The MIT study said it could provide electricity at competitive prices. Price comparisons indicate it could be cheaper than other forms of renewable energy, including biomass and solar power. "The outlook is very good that we can do it," said Karl Gawell, executive director of the Washington D.C.-based Geothermal Energy Association.

But others are waiting for proof that it's worth the expenditure.

posted 30-10-2007 22:54            

Easy on the land. The land area required for geothermal power plants is smaller per megawatt than for almost every other type of power plant. Geothermal installations don't require damming of rivers or harvesting of forests -- and there are no mine shafts, tunnels, open pits, waste heaps or oil spills.

Reliable. Geothermal power plants are designed to run 24 hours a day, all year. A geothermal power plant sits right on top of its fuel source. It is resistant to interruptions of power generation due to weather, natural disasters or political rifts that can interrupt transportation of fuels.

Flexible. Geothermal power plants can have modular designs, with additional units installed in increments when needed to fit growing demand for electricity.

Keeps Dollars at Home. Money does not have to be exported to import fuel for geothermal power plants. Geothermal "fuel'" - like the sun and the wind - is always where the power plant is; economic benefits remain in the region and there are no fuel price shocks.

Helps Developing Countries Grow. Geothermal projects can offer all of the above benefits to help developing countries grow without pollution. And installations in remote locations can raise the standard of living and quality of life by bringing electricity to people far from "electrified" population centers.

posted 26-02-2008 20:59            

#3 Nevada Geothermal Power (OTCBB:NGLPF or Toronto:NGP.V) US$1.29 or CAD$1.26

Geothermal first started catching investors' attention about six months ago. I went into detail as to the reasons for its appeal, and the factors bringing it to investors' attention in this profile of Geothermal power in October.